Sat, 24 Aug 2019

Nasdaq leads rally on Wall Street

Lola Evans
15 May 2019, 06:25 GMT+10

<p>NEW YORK, New York - U.S. stocks bounced back on Tuesday, a day after all the indices were heavily sold off.</p><p>Comforting remarks from U.S. President Donald Trump over trade talks with China eased fears of an all-out trade war.</p><p>Trump on Tuesday denied talks had &quot;collapsed,&quot; and described the current impasse as &quot;just a squabble.&quot;</p><p>Surprisingly U.S. markets bought the rhetoric and went on a buying spree, recovering some of the ground lost on Monday.</p><p>The Dow Jones Industrial Average climbed 207.19 points or 0.82% to close Tuesday at 25,532.18.</p><p>The Standard and Poor&#39;s 500 jumped 22.56 points or 0.80% to 2,834.43.</p><p>The Nasdaq Composite which had fared worst in Monday&#39;s bloodbath, did best in the recovery too. The tech-laden index rose&nbsp; 87.47 points or 1.14% to 7,734.49.</p><p>The U.S. dollar was slightly stronger, rising a touch against the euro to 1.1207.</p><p>The gain against the British pound was more substantive, sending sterling to 1.2909 around the New York close Tuesday.</p><p>The Japanese yen was largely unchanged at 109.61, as was the Swiss franc at 1.0090; and the Canadian dollar at 1.3464.</p><p>The Australian and New Zealand dollars were a tad weaker at 0.6943 and 0.6573 respectively.</p><p>In overseas markets, London&#39;s FTSE 100 added 1.09%.</p><p>The German Dax rose 0.97%, while the Paris-based CAC 40 appreciated by 1.50%.</p><p>In <a href="https://www.bignewsnetwork.com/news/261031918/hong-kong-stock-index-drops-428-points">Asian markets</a>, the Hang Seng suffered the most damage. The key Hong Kong index fell 428.22 points or 1.50% to 28,122.02.</p><p>The Shanghai Composite gave up 20.10 points&nbsp; or69% to close at 2,883.61.</p><p>In Tokyo, the Nikkei 225 shed 124.05 points or 0.59% to finish at 21,067.23.</p><p>The Australian All Ords declined 54.10 points or 0.85% to 6,327.20.</p>

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